A traditional economy is based on an established economy that has proven successful in the past. Resources are allocated by inheritance. There is no waste of resources and roles are well defined. A huge disadvantage, however, is a resistance to change.
Kazakhstan has a Traditional economy
command economy
Traditional Economy.
Traditional Economy.
Agriculture drives the economy
The country that uses the traditional economy system is Cuba
Kazakhstan has a Traditional economy
A mixed economy is a system that combines characteristics of market, command, and traditional economies. It benefits from the advantages of all three while also experiencing some of the disadvantages.
command economy
Traditional Economy.
Traditional Economy.
Agriculture drives the economy
It's an economy controled by a central administrater
In a capitalist system, the government answers the three basic questions.
A Traditional Economy Based on Farming :)
traditional economy
No, Capitalism is a market economy